Legacy Financial Advisors Inc. Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Legacy Financial Advisors Inc. grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 34.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,408 shares of the electric vehicle producer’s stock after buying an additional 3,978 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Tesla were worth $3,049,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in TSLA. Atalanta Sosnoff Capital LLC lifted its holdings in Tesla by 3.7% in the fourth quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock valued at $45,546,000 after acquiring an additional 6,575 shares during the period. Newbridge Financial Services Group Inc. lifted its position in shares of Tesla by 7.4% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after acquiring an additional 1,943 shares during the period. Entropy Technologies LP acquired a new stake in shares of Tesla in the 1st quarter worth approximately $1,941,000. Future Financial Wealth Managment LLC purchased a new stake in Tesla during the first quarter worth $79,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Tesla by 0.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,413,257 shares of the electric vehicle producer’s stock worth $351,166,000 after purchasing an additional 6,034 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Tesla Trading Down 2.3 %

TSLA stock opened at $238.25 on Friday. The company has a market cap of $759.83 billion, a P/E ratio of 60.78, a PEG ratio of 6.00 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $221.30 and a 200-day moving average of $195.84.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the company earned $0.78 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities research analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TSLA. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and set a $300.00 price target on shares of Tesla in a research report on Wednesday, July 24th. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 target price on shares of Tesla in a research note on Monday, June 10th. Stifel Nicolaus initiated coverage on Tesla in a research report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 target price on the stock. Finally, Roth Mkm reiterated a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research report on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $209.60.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.